Current Issue
This Month's Print Issue

Follow Fast Company

We’ll come to you.

1 minute read

Where Are They Now?

Spotify Gets A Record Hit With Jay-Z's New Album

Opening week plays on Spotify of Jay-Z's new album have broken the music website's records.

Spotify Gets A Record Hit With Jay-Z's New Album

Spotify only introduced its Top 50 chart mechanisms recently and that dulls today's news down somewhat, but the fact that Jay-Z's new album Magna Carta Holy Grail achieved 14 million whole-album streams in the U.S. alone—a Spotify record—is indeed an impressive success.

That figure easily surpasses Daft Punk's 9.5 million download tally and Mumford & Sons' 8 million. The data also suggests that Spotify really is a force to be reckoned with in the new digital music biz—reflecting well on the recent decision by Billboard to include its official music charts as a channel on the streaming music site.

Spotify has recently been the subject of seriously bad press over the matter of its royalty fees, which are typically much lower than the music industry expects. The firm has fought back and stated it will pay out $1 billion in royalties this year, but it's unclear if this will compensate bands for the potential lost royalties they'll suffer if fans just stream and don't buy music.